Evening Star Newspaper, July 22, 1929, Page 14

PRICES ARE FIRM ON D. C. EXCHANGE Utility Shares Are Feature of Light Trading—Changes Small. BY EDWARD C. STONE. Prices started the week on the Wash- ington Stock Exchange about where they left off Friday. The first stock sale was in Capital Traction at 85. ‘Twenty shares then and 10 more et 85 flat. A small lot of Norfolk & Wash- ington Steambeat stock came out at 300 and the next transaction was in Potomac Electric Power 6 per cent preferred at 112. Ten shares of Washington Gas sold ex-dividend at 173, The stock’ sed vely strong, with 125 bid and 127 asked. Sand & Gravel We’é;fed Lanier P. McLachlen. moved at 88, Com- mercial National Co. at 103 and Fed- eral-American Co. preferred at 1013%. The common chanzed hands today to the extent of 50 shaigs at 47. Merchants’ & Storage com- mon opened at 117 and closed % of & point higher, sales totaling 30 shares. Mergenthaler Linotype figured in two small sales at 105 and 1047s. Fifteen shares of Terminal Refrigerating & ‘Warehousing Corporation sold at 503, and 720 shares of Real Estate Mortgage & Guarantee preferred changed hands t 73 ' Raftway & Electric preferred moved at 98, Unlon Trust stock at 335 and Barber & Ross common at 1813, Ten shares of Raleigh Hotel Co. stock sold in the unlisted department at 75. Washington Railway & Electric 4s led activity in the bond division with a $5,000 transfer at 86'%. The rest of the bond trading was in the gas issues. McLachlen Bank Changes Finished. Changes in progress in the main office of the McLachlen Banking Corporation, Tenth and G streets, made necessary by steadily expanding business, have been completed, business now being car- ried on in greatly enlarged quarters. Included in the plan of expansion is & large vault of latest design equipped with modern safety appliances. This great steel depository is placed in a specially constructed compartment just off the main banking room. A new book vault has, also, been constructed and entirely new quarters provided for the bookkeeping department. Coupon booths for the safe deposit department are completely new and de- signed to include the most modern fix- tures in lighting and locks. A passage ornamented with a bronze grill connects the new addition to the older portion of the bank which contains the main busi- ness counters, quarters for the officers and convenient desks for the use of customers. The space formerly occupied by the bank vault is now equipped with counters finished in marble, bronze and glass. The addition includes a confer- ence room and the entire bank is pro- vided with marble floor and wainscoat- ing with new electric lighting fixtures of artistic design, harmonizing with the bronze counter fixtures. Officers and directors of the McLach- len Corporation are: Lanier P. Me- Lachlen, president; Firman R. Horner, vice president; John A. Massle, vice president and treasurer; Archibald Mc- Lachlen, secretary and assistant treas- urer; Guy D. Cowl, assistant treasurer, and E. I..W. Goldney, auditor. Direc tors: Firman R. Horner, Col. John Mec- Elroy, Thomas R. Harney, John A. Massie, Archibald McLachlen, James A. ‘Watson, Edwin H. Etz, Dr. Lee C. Cor- bett, Lanier P. McLachlen, Henry E. Bittinger, George Miller and Willlam B. Kerkam. B. & O. Earns $12.43 Per Share. ‘The Baltimore & Ohio Railroad Co. has issued its pamphlet report for year ended December 31, 1928. Total assets ‘were $1,049,875,003, compared with $1,071,548,240 on December 31, 1927, and profit and loss surplus of $76,617, 647, against $63,886,722. Current assets ‘were $57,184,712 and current liabilities $28,514,869, contrasted with $91,913,650 and $63,441,123, respectively, at end of previous year. Income account, which has already been published, shows net income of $20.100,930 after taxes and charges equivalent, after 4 per cent preferred dividends, to $12.43 a share earned on 2,151,878 shares of common stock. This compares with $22,633,345, or $9.42 a share, on common stock outstanding at end of 1927. After payment of common dividends there was carried to profit and loss $13,835,127, making the accumulated surplus $103,905,106. The total revenue from rail operations in the year was $236,818,681, a decrease of $9,263,387, the report shows. There was a decrease in operating expenses of $13.620,194 to $172,550,868. The recorded investment in property owned by the company and held for or used in the service of trans- portation. was $869,468,135 on December 31, 1928, an increase over the previous year of $9,582,829. An Interesting Stock Record, ‘The investor who bought 100 shares of American Telephone & Telegraph in December, 1908, at a cost of $13,000 would have today 483 shares worth, at the market, about $100,000, provided in the meantime he had reinvested dividends and exercised rights. This is :‘;1: oéothe highlj\gh:s in an ldflllylil “(,)el mpany just prepare Brookmire Economic Service. v Over a period of 10 years the yield on this stock has averaged over 9 per cent, taking in the cash value of the rights. Over a period of years also American Telephone stock has shown a rate of appreciation of better than 10 per cent a year compounding each successive year. hl::ludl’:ll]dlll !qu’l"gl A:n:l‘lmn Tele- e should earn 16 a share {lu stock in 1929, i - Heard in Financial District. ‘The American Fire Insurance Co. of the District of Columbia has declared the usual semi-annual dividend of 6 per cent, payable August 1, to stock of record July 25. ‘The National Savings & Trust Co.’s regular quarterly dividend of 3 per cent is payable on August 1 to shareholders © Geovse O, vass, vice t and . 'ass, cashier of the Riggs Naf Bank, is passing his n on the golf links ‘Washington and at ‘where Edward L. Hillyer, vice president of the Union 'l‘nutys:m and also of the ‘The combination of lake, mountain and ocean :i‘l‘: is helping him to gain rapidly —Prev. 1020~ High. Low. 54% 38% ADItibi Power & Pap 88% 79 ADbitibi P& P pf(8).. ~591% 101 Abraham & Straus 750 389 Adams Expre: % A um 1% Ahumada Lead 95% Alr Reduction (3). 37% Alr Wal E1 Ap(2%).. 1 1 1 3 5 3 0 3 18 S50 12 Albany P W Paper.. 1 27% Alleghany Corp. .... 915 % 99% Alleghany C pf (5%) 100% Alleg’y pfrets(6%). 241 Allled Ch & Dye (6). 120% Allied C&Dpf (7). 166 Allis-Chalm M (7).. 22% Amerada Corp (2). 10% Am Agricul Chem 40% Am Agricui Ch pf. 1104 Am Bank Note (13) B40%_ Am BoschyMagneto 45 °Am Brake Shoe 2.40. 15% Am Brown Bov Elec. 107% Am Can (14). 136% Am Can pf (7). 92 Am Car & Fdy (6). 70% Am Chain pf (7). 46% Am Chicle (2).. 431 Am Com Alc (k1.60). 23% Am Encaust Til (2).. 823 Am European Sec. 75% Am & For Power. 88 A & For Pw 2d pt 24% Am Hawalian (1) 30% Am Hide & Lea pf... 64 Am Home Prd (3.60) 38 Am Ice (13) . 52% Am Internat 59 113 Am Loco pf (7) 113% Am Metal pt (6). g 98% Am Pow & Lt pf (6). 79 AmP&L pf A £t (5). 40'%4 Am Rad&Std S(1%). 43% Am Republies. . 106% Am Roll Mill (c2) 61 Am Safety Raz (16) 3% Am Ship & Com 93% Am Sm & Ref (4) 1791 Am Snuff (12).. 56 Am Steel Fdy (3) 65 Am Stores (2) 71% Am Sugar Rfg 35% Am Sumatra (3) 4 193% Am Tel & Tel (9 3 160 Am Tobacco (8) 160% Am Tobacco B ( 1364 Am Type Fdry (8)... 67% Am Water Wks (c1). 164 Am Woolen...... 89% Am Woolen pf. 9 Am Writ Paper ctfs. 22'% Am Zinc Ld&Sm. .. Am Zinc Ld&Sm pf 99 Anaconda Copr (7). 62% Anaconda W&C (3) 43 Anchor Cap 12.40)... 44% Andes Copper (3) 29 Archer-Dan-M (2). 85% Armour Del pf (7). 10% Armour Il (A). 5% Armour Il (B). 71% Armour 11l pf (7) 19% Arnold Constable. 26% Art Metal (1%) 49% Asso Appl Ind ( 43 AssoDry G (2%) 195% Atch T &S Fe (10). 99 Atch T&SF pf (5) 90 Atlas Powder (4) 10% Atlas Tack... 169 Atl Coast Line (110). 32% AtlG & W Indie: 45% AtIG & W Lpf (4). 53% Atl Refining (t13).. 288 221 22% Autosales...... o 8 oo o RmBmE R D B~ 2 2 210 Baldwin Loco (7) 4 115% Balto & Ohfo (6). 6415 Bang & Aroos (3%) 3 38% Barnsdall (32%4).... 173 8 Bayuk Cigar (2)..... 31 20 BeaconOil... 73 Beech-Nut Pack (3. 11 Belding-Heminway.. 126 78 Bendix Aviation (2).1002 75% Best & Co (3)...... 1 8214 Bethlehem Steel (4). 913 116% Bethlehem Stpf (7)., 7 42% Bloomingdale Bro: 110% Bohn Alum&Br(t4) 6 Booth Fisheries. 83% Borden Co (3) 107 Borg Warner (j4) 85 Boston & Maine 30% Briges Mfg. 371 Briggs&Stra ; 3% British Empire Steel 5% British Em $tl 2d pf. 114% Bristol Myers(143%). 4215 Brockway M T (3)... 59% Bklyn-Manhat (4)... 170 Bklyn Union Gas (5) 38% Brown Shoe (2%4)... 35% Bruns-Balk-Col(3).. 38% Bucyrusevpf (234). 46 Bullard Co (1.60).. 54% Bush Term (g2). 4% Butte Copper & Zinc. 6% Butte & Superior (2). 28 Butterick Co... 122% Byers (AM)..... 19 33% By-Prod Coke (13)... 36 72% Calif Packing 1% Callahan Zinc & L. 78 Canada Dry G A (5). (10)..y (2.80) 22% Cavanagh-Dobb Celotex (3). 30 Cent Aguirre (2). 2 40% Cent Alloy Steel (2). 197 305 CentRRof NJ (112). 88% Cerro de Pasco (6). 16% Certain-teed Prod 195 Ci & Ohlo (10). 78% Chesapeake Corp 4% Chi & Alton. 6% Chi & Alton pf. 28 Chi& EastIll 27% Chi Mil St P&Pac. . 46'% Chi Mil St P&Pac pf. 230 80% Chi &N W (4). . 56 102% 98% Chi R1& Pacpf (6).. 108% 105% Chi RI & Pacpf (7). 74% 44% Childs Co (2.40). Chrysler Corp (3)... 4 City Ice & F (3.60)... 19% City Stores (1) 72% 52% Cluett Peabody (5) Colo & South (3) 91% '58% Columbla G&E (2) 88% 55% Couml Graph (29.1¢). 176 205% 121% Columb Carbon t4%. 14 2% 43 Com Credit (2 . 166 131% Com Inv Trust (t4).. 1;; 59% Conde Nast Pub (2).. 1 19% Congoleum-Nairn... 103 60 Contl Can (2%) . 79 Contl Insurance (2).. 13% Contl Motors (80c).. 20% Contl Ol of Del..... ugar. . Cuban Dom Sugar. 1% Cuba Cane Sugar.... 8% Cuba Cane Sugar pf. 11% Cuba Co. 101% b58% Cutler-Ham (3%).. 69% 42% Davison Chem...... 226 182 Delaware & Hud (9). 156% '120% 7% % Denv&R G Wt r¥erd 4 t Edison (8).. 10% I Auburn Auto (34) 19 3 Detrol Devoe & Ray A (13). ' 1 Mwflr() 4 26 95% 24 243% 4 17 48 54% 22 225% 188 48 48% 173% 173% 57% b7l 479% 479% 711 24% 24% 1% 1% 66% 68 26% 25% 148 148% 28 8, 2% 2% 15% 16 8 8 86 86 13% 18% 95 95 8% 8% 96 96% 13 13 8 124 11%, 11% 18 1 18~ 1% 6 54 54 54 22 163% 161% 161% 14 98 97H% % b3 54 B53u 219 219 226% Del Lack & W (17).. 166 160 156% 156% 154% | 18 1 %5 7 208 242% 16% 38% 157% 25 113% 168 56 26% 91y 126% 11 43% % Granite City Stl (3). 4+ How 132% 133% 30 1% 29 28 75 120 8% 384 21% 84 84 149% % 5dle 99 92 474 65% 25 9 152% 6 3 6344 32% 12% 3313 5% 26 127% 10 49% 19 Low. Close. 112% 113 184 184 114% 114% 'Drug Corpn (4)..... Du Pont de N(t4% ). Dupontd N deb (6 Eastman Kod (1 Eaton Axle& S (3)., Eitingon-8ch (2%)., Eitingon pf (6%)... Eleec Auto Lite (6) Electric Boat. ElPwr&Lt (1)..... 4 El Pwr & Lt pf (7)., Elec Stor Bat (5). Fng Pub Serve (11). Eng Pub Sve pf (5%) Equitable Bldg(2%). RO oo Erle RR1st pt (4).. Eureka Vac Cl (4)... Evans Auto L($2%). M Fed Lt & Tre ($1%). Fed Motor Tr (80c) Fid Phen F Ins (2).. First Nat Stor Fisk Rubb v Flelschmann (13%). 193% 193% 60 60 27% 90% Foundation Co... Fox Film A (4), Freeport- « Gabriel Snub A. Gardner Motor. Gen Am Tnk Cal Gen Bron: core GenCable A (4)..... Gen Cigar (4). o1 69% Gen Electric (16)... 540 362! Gen Elec spec (60c).. 3 11 Gen Gas&El A (e1%) 27 89% Gen Mills (3)... 6_173 Gen Mills pt (6) 1795 Gen Motors (13.30)..1177 Gen Motors pf (7)... Gen Outd Adv A (4). Gen Outd Ad vte (2). Gen Public Serv(b$) Gen Ry Signal (5) Gen Refrac (13%) Gillette Safety R (5) Gimbel Bros pf (7).. Glidden Co (t1%) Gobel (Adolf). Gold Dust (2%). Goodrich BF (4). Goodyear Tire (5) Goodyear 15t pf (7).. Gotham Silk H (2% Gould Couple; Graham-Paige. Graham-Paige et. Granby Consol (7) Grand Unfon........ Grand Union pf (3).. 2 92 ! Grant W T (1).. Grt North pt (5) Grt North pf ct (5).. Grt Nor Ore (a1%).. Grt West Sug (2.80) Gulf Mo & North. Gulf Mo & N pf (§ Guif Sta Steel (4) Hahn Dept Store: Hartman B (1.20)... Hayes Bdy (b8 %stk) Helme (G W) (17) Hershey Chocolate Hershey Choc pf (4). Hershey Ch pr pt(6). Hoo (R) &Co........ Holland Furn (e2%). Hollander & Son. . Houd Hersh B (1% Household Prd (14) Housten Oil. . ound ). Hudson & Man (2%). Hudson Motor (5)... Hupp Motor (f2).... I- Illinols Central (7).. Illinois Cent pf (6).. Independ O11 & G (2). Indian Motor Cycle. . Indian Refining. - 85% 38Y% 149% 1518 Indian Refining ct. Industrial Rayon. Ingersol Rand (5%). Inland Steel (3%)... Inspiration (4)... Interboro Rap Tran. Intercontinental Rub Intl Agricultural.... Intl Business M (5. Intl Cmb Eng pf (7).. Intl Harvester (234). Int Hydro El A (e2). Intl Match pf (3.20). Int Mer Marine ctfs.. Intl Nickel Can (80c) IntlPap & P A(2.40). Intl Pap & Pwr B. Intl Pap & PwrC.... Intl Pap & Pwr pf(7) Intl Print Ink (2%).. 3 51% Intl Tel & Teleg (2).. 497 112% Inter Dept St (2).... 7 69% Island Creek Coal(4) 4 52% Jewel Tea new (3). 6 80 Johns-Manville (3).. 51 198% Jordan Motor Car, 14 % 121% 85% Kan City Sou (5). Kan City Sou pf (4)., KaufmannD S (1%). Kayser J &Co (5)... eith-Albee-O pf (7) 107% 6514 20% 58% 1174 134 46% 105% 4 66l 2914 12% Kolster Rad0.....00 Kraft PhCh (1%) Ki X P! Kreuger & Tol(1.34). 153 Kroger Gr&Bak(cl). 56 Lago Ofl & Tran: Lambert Co (8). L Link Belt (2.40)... Liq Carbonig (14%) Loew's Inc 8). ft Inc.... . Long Bell Lumb A. 4 98% 101% 96% 974 o] n % McKesson & Rob (2). McKes & Rb pf(3%). Mack Trucks (6). Macy (RH)&Co(ct3). 7% Madison 8q G (1%) Marmon Motor (4). Martin-] Maytag Co 1st pf(6). % 6% 60% 1 Melville Shoe (1.40).- Mid-Continent P (l); Middle States Ofl Miller Rubber. 145% 1 % 69% 163 128 125% 18 4% 3% 4% 4 1 76% 76% 176% T6% 7T 8% 3 3. 3 25 50 51 52 2 14 14 14 14 2 128 124% 124% 130 8% 47% 47% 484 —~Prev. 1920~ Hich. Low. 118% 81% Nash Motors (§) Nat Acme (1%). Natl Alr Tran: . Natl Bella Hess(31). Natl Biscuit (16%) Natl Cash Reg (14).. NatlEnameling (2).. Natl Lead (5)... Natl Pwr & Lt (1). Natl Radiator. .. Natl Rys Mex 2d pf.. 162% 1284 58% 40 115% 80% 129 114% 82 234 9% 3w 48 383 263 191 162% 90% 54% 51% 103% 997 64%4 484 116% 95! 113% 96 6%, 2% 32 17% 64'% 3414 99% 90 North Am pf (3).... North Am Ed pf (6).. No Ger Lioyd (3.41). Northern Pac (5).... North Pac et (5). Norwalk Tire & Rb. . Ofl Well Supply..... 3 Oliver Farm Equip.. 43 Olivr FrEqpf A(6). 1 Olivr FrEp cv pt(3). 18 Oppenheim Col (5) L Otis Steel....... 3% 5% 7% 70 1% 1 153% 116% 63 40 66% 404 15% 9 72 b5W 18% 7 14% T4 47% 344 2215 11% 60% 38 27 11% 99 21y 203% 148 45 31 79% 56% 157% 17% 13% Pacific Gas & E (2) Pacific Lighting (3. Pacific Oil stubs. Packard Motor Pan-Am Petroleum Pan-Am Pete B. Panhandle P & R Paramount-F-L (3).. Park Utah (80c).... Pathe Exchange.... Patino Mines (3.89).. Peerless Motor Car.. Penick & Ford... Penn Dixie Cement. . Pennsylvania RR(4) Pere Marquette (18). Pet Milk (1%). Phelps Dodge (3 Phila Co (17) Phila& Read C& Philip Morris (1) Phillips Pete (1% Phoenix Hosfery, 4 Plerce-Arrow A. Plerce Arrow pf (6). Pierce Oll.. g Pierce O1l pf. : Pierce Petroleum . Pillsbury Flour (2).. Pirelli Co A (2.88)... Pitts & W Va (6) . Pittsburgh Coal pf. Pitts Terminal Coa! Poor & Co (12)...... 4 P Rican Am To (A)7 P Rican Am To (B).. Postal Tel & C pf(7). Postum Co (3). 1 Prairie Oil & Gas Prairie Pipe L (14) Pressed Steel Car. Prod & Refiners. Pub Sve NJ (2.60)... Pub Sve NI pt (6)... Pub Sve NJ pf (8)... Pullman Corp (4). Pure Oil (1% Purity Bakeries (3 ® SeanBnnman a o A Radio Corp.... Radio pf A (3%).. Radto pt B (5). Radio-Keith-Orph A. 151 RRSecICstkC(4). 40s Reading (4) Reading 1st Remington-Rand Reo Motors (1.6 % Rep Brass Corp... 4 Rep Iron & Stl (4)... Rep Ir & St1pf (7)... Rio Grande Ol (k2). Rosafa Ins (2.20).... 23 Royal Bak Pwdr(1).. Royal Dutch(a1.336) Sateway Stores (3).. St Joseph Lead (13). St L-San Fran (8)... St L-San Fran pf (6) St L Southwestern. . St L Southwn pf (5 Schulte Retall Strs. Scott Paper ($1.40 Seaboard Air Ling Seagrave (€1.20).... Sears Roebck (32%) . Seneca Copper. . Sharon Steel H (2).. Shattuck F G (2) Shell Union (1.40) Shubert Theater (6). Simmons Co (3)..0es Simms Pet (1.60). SinclairOil (12%)... Skelly Ol (2).0veeee Sloss-Sheffield pf (7) Snider Packing pf... So Porto R Sug 12 Southern Cal Ed (2) Southern Dairles B Southern Pacific Southern Rwy (8 Southern Ry pf(5) Spalding A G (1.60). Sparks Withgtn (n).. Spencer Kelg(1.60).. Splcer MIg....... ' Spicer Mfg pf (3).... 77% Spiegel-May-St (3).. 16014 138 | 99~ 93 50% 59% Stock ana Sales— Dividend Rate. _ Add 00. High. 55% 40 27% 724 384% 53% 167% Dividend rai laration. % 18 stook. t Plus 10% in stock. jPlus 8% In_stock. 82% Underw-E1-Fish(4).. Union Bag & Paper. . Union Carbide(2.60). Union Oil Calif (2).. Union Pacific (10) Union Pacifie pf ( Union Tank Car(5). Utd Afrcraft&Trans. Utd Afrcraft&T pf 3. United Carbon . Utd Biscuit (1.60), .. % Utd Cigar Stores(1). Utd Cigar St pf(6).. ‘Westn Dairy A (4). Westn Dairy (B) Western Maryland. ‘Western Md 24 pf. ‘Western Pacific ‘Western Pacif pf. Western Union (8) 4 Westngh Air Brk(2). Westngh EI&M (4) Weston El Instru White Eagle 011 (2) White Motor (1). White Rock M S (3). White Sewing Mach.. ‘Wilcox Rich(A)2%.. Wilcox Rich(B)e2... 7 Willys-Over (c1.20). 120 ‘Willys-Over pf 2 Woolworth Co. Yale & Towne (4) Yellow Truck & C. 38 Young Sp&W «(12%). Young Sheet & T (5). Zenith Radio........ RIGHTS EXPIRE Col Gas&El..Aug 15 455 Mont Ward..Aug26 67 es as given cash payments based on the latest quarterly sUDIt of trading less than 100 shares. ¢Partly extra. §Plus 33 in preferred 1-28 ear—no regular rate. b Payable when Stock and Sales— Dividend Rate. Add 00. High. Low. Stand Com Tob (1).. 2 Stand Gas & El (3%) 262 Stand G&EDL (4)... 2 Stand Milling (6). .. Stand Ofl Calif (13).. 1 18 138% 64% 1113 85 98 Sterling See (A). Sterling Sec pf 11.20. Stewart Warnr(3%). Studebak. Submarine Boat... Sun Ol (g1) Superior Oil Supetlor Steel..... Swects of Amer (1) Symington. Symington A. T (36).0aen ‘Telautograph (1).... ‘Tenn Cop & Ch (1, ‘Texas Corp (3). Tex Gulf Sul (4). Texas & Pac (5).. ‘Texas P C & Ol (b5). Texas Pac Land Tr.. ‘Thatcher Mfg..... ‘The Fair (2.40)..... Tide Water Asso. ... Tide Wat Asso pf(6) Third Avenue . Timken Det Ax(80c). Timken Roller (3). Tobacco Pr (1.40) Tob Prod ctfs(1.40).. Tobacco Pr A (1.40). Tob Prod ctfs A 1.40. Transcontinental. Twin City Rp T (4).. U- 65 1 Utd Electric Coal (3) Utd Fruit (c4)...... Utd Gas & Imp (1).. Utd Gas & Imp pf(5) Utd Paperboard. ... USCstIPetfs(2).. P 1st pf cfs 1.20 P 2d pf efs 1.20 U S Distributing. ... U S Bxpress. ... U S Foreign Secur. U S Hoffman (4). U S Ind Alco (6) Leather.... L « pf... U S Smelt Ref (3%). U S Steel (7). 84: U S Steel pf (1) Univ Leaf Tob (3). Univ Pipe & Rad. 10 12! Ul Pwr & Lt A (e2) 605 497 Vadsco Sales. Vanadium (14)...... Vick Chemical (4). Virginia-Car Chem. Virginia-Car 6% pf. Virginia-Car pf (7) Wabash....... Wabash pf A (5). 4+ Waldorf Systm (1%) Walworth (1.20).... Ward Baking B..... ‘Warner Bros Pic (n) Warn Br P pf(2.20) .. Warner-Quinlan (2). ‘Warren Bros (15) 17 12 7 210 ©am n PO < Wrigley Wm (¢) 2 824 370 16 23 in the annual ol yearly dec- 1P etk JElue 3 & Plus :"‘bed.ln kPlus 3% In Wall Street Briefs By the Assoclated Press. 'A’$40,725,000 offering of City of Chi- cago Board of Education 6 per cent tax anticipation warrant notes is to be made today by Halsey, Stuart & Co., Inc., and associates. The notes mature in monthly installments from May 15 to October 15, 1930. Net _income of Texas Gulf Sulphur Co., Inc., for the first half year was $7,451,530, or $2.93 a share, compated with $6,674,658, or $2.63 a share in the 1928 period. June quarter net was $3,571,270, or $1.40 a share, compared with $3,586,819, or $1.41 a share, in the corresponding 1928 quarter. The com- pany increased reserves by $319,889 in the recent three months period, ing the total reserves to $11,821,896 of June 30. ‘The _car service division of the Amer- ijcan Railway Association reports that class 1 on July 1 had 142,064 freight cars in need of repalr, or 6.4 per cent of the number in use. This was an increase of 2,398 above the number re- ported on June 15. F. J. Lisman, New York investment banker, has tem) the presidency of Consolidated Automatic Merchandising Corporation, familiar] known as Camco. . Net_operating income of the Chi Alton Railroad for the first sl months of 1920 was $1,404,055, com- pared with $841,669 in the 1928 period. .37}':;\9 net totaled $267,865 against $173,- Petition in Bankruptey. BALTIMORE, July 22 d, a restaurant r Monf Ty Corporaf (Bpefic:fl) s | s AMERICAN JOCKEY WINS FOUR RUSSIAN RACES U. 8. Tourists Back Son of Czar's Horse Trainer to Garner Rubles at Track. By the Associated Press. MOSCOW, July 22.—Members of the American party touring Russia and several hundred other American tour- ists today saw their first Russian horse race. L. Caton, the only American jockey in Russia, from Cleveland, Ohio, won all of his four races, the last being his seventy-ninth victory of the year. Caton is regarded as the greatest iglcn'y in Russia. His father trained the Czar's race horses for 40 years. Most of the Americans staked their rubles on Caton, and left the track considerably richer only to learn the Soviet government takes 40 per cent of all revenue from the track, including winnings. z S S R Train for Channel Swim. d, July 22 (#).—As training to swim the En sh Channel, -the Zittenfeld twins, Bernice and Phyllis, entered the water 1y | this morning on the swim to Rams- gate, a distance of 20 miles. Their trainer, Billle Kellingley e: con- fidence they would establish a new world record for the distance. PRSHRLETS UNITED STORES CORPORATION NEW YORK, July 22 (#).—George 1t-of the (Btll‘d”t Dt“l:: ; president of Guaranty Trust Co. of New York, is to %= | be & director. 'MONEY MARKET. NEW YORK, easier; Commodity Notes Special Dispatch to The Star. Oil. CHICAGO, July 22.—The unfavorable crude oil situation is reflected in a re- duction of half a cent in tank car gaso- line prices by leading producers. Major refiners in Oklahoma now quote 8c a gallon and hope to stabilize the price around that level. Gasoline consump- tion is in record breaking proportions. Fruit. SAN FRANCISCO. — Some juice grapes have been contracted for in Cen- tral California for from $60 to $65 a ton, but growers generally are hesitant to make commitments, expecting re- duced crop and new grower organiza- tions to strengthen price. Sy sec ow little let-uj operations. Acerage operations are Rgured about 96 per cént for Northern Ohio and the in- dications are that the fall demand will cause & big rush of business in all of the lines related to the steel and auto- mobile trade: — . Baltimore Grain Exports. BALTIMORE, July 22 (Special).— B e Tnzes webe. 31968 3 el R hueshe).l of '%en and sfle,lw barrels of flour. % ’ Acceptance Credit. NEW YORK, July 22 (#).—Reports from London to Wall Street say that General Motors Acceptance tion Corporal has concluded a six months’ acceptance credit of £2,000,000 to finance General Motors exparts to Australia and other countries. / MARYLAND BOND ISSUES. BALTIMORE, July 22 ( issue morrow. cent interest and are road bonds. 'he State land will enter the bonds ion from groups PRIGES ARE MIXED IN STOCK TRADING List Turns Irregular After Early Selling—Money Rates Easier, * BY STANLEY W. PRENOSIL, Associated Press Financial Editor. NEW YORK, July 22.—Chief specula~ tive interest shifted today from the Stock Market, which developed irreg- ularity, to the grain markets, wheat advancing 3 to 4 cents a bushel in Chicago and as much as 6! cents in Winnipeg. ~ Credit conditions were lightly easier, call money renewing at ;l per ceknt “::hmeffli“i' fl.;ne“l’n about, wo weeks, with a fairly plen! - ply available. e i Renewed weakness of the motor stocks and heavy profit-taking in the rails contrasted with the strength of the public utilities and electrical equip- ment issues on the New York Stock Exchange. In the general list the main tendency appeared to be downward, with selling influenced by the specula- tive belief that a technical “reaction” was in order. Outside the sharp rise in grain prices, increasing the potential ~purchasing power of the agricultural regions, the day’s principal business news-develop- ments consisted of another series of favorable earnings statements. Several of the conservative commission houses urged a lightening of long commitments and extreme caution in the making of new commitments which undoubtedly brought heavy selling into the market. General Motors sagged to another new low level below 67 in reflection of specu- lative disappointment over the June sales statement. Packard, Chrysler, Marmon and Murray corporations also fell back 1 to 21, points. With the exception of the utilities and a few specialties, several of which made new highs, the trend was down- ward in the last half hour. General Electric sold at 362, a new high, and record prices were also established by Detroit Edison, Ingersoll Rand, Cola, Louisville Gas, Westinghouse Electric first preferred and North Amer- ica, up 2 to 10 points. Selling ep- peared in some of the oils, with Beacon and Sinclair down 2 each and Honuston 3%. Allied Chemical dropped 15 points and Johns Manville slumped 1.. The close was irregular. Opening Is Higher. Prices continued to move irregulaily higher at the opening. Public utilities were the early leaders, Consolidated Gas and Publie Service of New Jersey each opening more than a point higher. Bendix Aviation opened with a block of | 5,000 shares at 9975, a new high record. Initial gains of a point or so also were recorded by Westinghouse Electric, In- ternational Harvester, American Smelt- ing and Texas & Pacific. United States Steel common and Montgomery Ward opened fractionally lower. Expectations that credit conditions would remain fairly easy for the rest of the week and the improved ratio of Stock Exchange loans to market values stimulated the resumption of bullish activities. While some of the commis- sion houses called attention to the pos- sibility that many stocks were under distribution, others stressed the fact that such operations foreshadowed in- creased volume at higher prices. Early activity centered largely in the public utilitics and rails, several of which moved into new high ground. Establishment of a new low level by General Motors last week tended to discourage fresh buying operations in the motor stocks. Oils showed signs of increased activity, but the steels, which were strong last week. ran into some rather heavy profit-taking in the early trading. Early Leaders. Brooklyn Union Gas assumed the leadership of the public utility group by rapidly climbing 6 points. Consoli- dated Gas extended its gain to more than 3 points by crossing 151 to a new high. . General Electric and Westing- house Electric each recorded early gains of more than 3 points each. Grant Stores, Allied Chemical, International Telephone and United States Industrial Alcohol also were prominent in the early upswing. In the railroad group Missouri Pacific preferred, Northern Pacific. Lacka- wanna and Union Pacific all sold at the year’s highest prices. Atchison was quickly marked up 2% points and New York Central and Southern Railway ad- vanced about a point each. United States Steel common sold off nearly 2 points, but quickly recovered most of its loss. Foreign exchanges opened steady, with sterling cables firmer at $4.85 3-18. BANK CHECKS TOTAL. By the Associated Press. Tlustrating the immense business momentum now proceeding in the coun- try is the latest Federal Reserve system summary of the total bank checks paid last week in leading cities of the coun- try. The amount found is 25 per cent greater than the like figure for the same cities in the corresponding week last year. Totals for the week and com- parable periods are: Week ending July 17, $18,963,322,000. Preceding week, $15,510,407,000. Same weck last year, $15,211,283,000. Checks drawn in the New York dis- trict for the week were $12,010,201,000, against $8,934,693,000 in the same week last year; Chicago district” checks for the same periods were $1,834,265,000, against $1,594,952,000. Will Receive Stock Rights. NEW YORK, July 22 (®).—Share- holders of the Peerless Motor Car Co. are to receive rights to buy additional stock at $18 a share. The offer is to be made to stock of record July 31. Shares not taken will be set aside for the company’s new officials, James S. Bohannon, president and general man- ager, and Don P, Smith, vice president, and will be paid for at the rate of one- third a year for three years. A e Sluggish condition of the stock mar- ket in Belgium has reduced the demand for seaside villas and country homes. First Mortgage Loans Fair Rates of Interest J. LEO KOLB 923 N. Y. Ave. On Improved Proferty ‘ 6% Interest No Commission Charges EAVER BROS REALTORS. 809 15th Street N.W. District 9486 Mortgage Loan Correspondent Metropolitan Life Insurance